UK-based Xaar PLC, a global leader in the development of industrial inkjet technology announced in an official release that it will develop 3D printing solutions based on High Speed Sintering (HSS) Technologies. To offer these solutions, Xaar PLC has formed a new company – Xaar 3D LTD along with investment from Stratasys, a global leader in additive manufacturing.
The newly formed company from Xaar will leverage the natural synergies between Xaar and Stratasys, especially Xaar’s technology relating to High Speed Sintering and industrial pieza inkjet printheads along with Stratasys’ commercial and market expertise.
Xaar will hold 85% of Xaar 3D Ltd whereas Stratasys will hold the remaining ownership. Stratasys has been granted an option to increase its ownership in the newly formed Xaar 3D Ltd to a total of 30%. The newly formed company’s board will be headed by Doug Edwards, CEO at Xaar.
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Speaking about the joint investment, Doug Edwards, CEO at Xaar said, “We are delighted to launch our partnership with Stratasys. This joint investment in the development of 3D printing technologies reinforces the value created by our R&D and continues our plan to diversify Xaar’s business. We are also pleased to be working alongside a leader in the 3D printing space, who recognises the value of Xaar’s technology and expertise.”
Offering more details about the partnership, Scott Crump, Chief Innovation Officer at Stratasys, said, “We are impressed with the Xaar team’s achievements to date. We believe that the complementary assets of Stratasys and Xaar will enable Xaar 3D Ltd to develop solutions that further address customers’ additive manufacturing requirements for a broader range of production applications.”
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